INDIRAPURAM HABITAT CENTRE PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

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ITA 5627/DEL/2015Status: DisposedITAT Delhi20 July 2021AY 2007-083 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeals filed by the Directors of the company undergoing insolvency are not maintainable. The appeals filed by the Revenue are also dismissed due to the moratorium under IBC.

What were the facts?

The assessee company is undergoing insolvency proceedings under the IBC Code. The appeals were filed by the Directors, who no longer have the locus standi to do so, instead of the Insolvency Resolution Professional.

What were the issues?

Whether appeals filed by directors of a company undergoing insolvency are maintainable, and the impact of the moratorium under IBC on pending appeals.

Which sections of the Income-tax Act were involved?

Section 14 IBC, 2016

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “E”: NEW DELHI

Before: SHRI KULDIP SINGH & SHRI PRASHANT MAHARISHI

For Respondent: Ms. Paramita M. Biswas, CIT DR
Hearing: 20/07/2021Pronounced: 20/07/2021

PER BENCH

1.

These are the six appeals of the same Assessee namely Indirapuram Habitat Centre Pvt. Ltd for Assessment Year 2006-07, 2007-08 and 2012- 13 where both the parties filed cross appeal before us.

2.

At the time of hearing the ld DR submitted that this Assessee is undergoing Insolvency Proceedings under IBC Code. She submitted that the three appeals filed by the Assessee are signed by the Directors of the company who no longer have locus standi to file the appeal and these appeals should have been filed by the Insolvency Resolution Professional. Therefore, these appeals deserve to be dismissed. He submitted that the appeal of the ld AO deserves to be heard and she relied on the order of the ld AO.

3.

Despite notice none appeared on behalf of the Assessee.

4.

We have carefully considered the contentions raised by the ld CIT DR and we find that this company is undergoing resolution as per IBC 2016. In fact the appeals are filed by the ld AO against the Assessee who is under moratorium. According to the provision of section 14IBC, 2016 of the proceedings against the Corporate debtor shall continue till the conclusion of the insolvency proceedings. In case the appeal of the Assessee, same are filed by the Director who do not have any lucas standi in the present case as insolvency resolution professional has been appointed in the present case. In fact the appeal should have been replaced by filing a fresh appeal after he obtains the approval of the committee of creditors. Therefore, the appeals of the Assessee are also not maintainable. In view of this, we dismiss all the six appeals, (three appeals filed by the AO and three appeals filed by the Assessee) with a liberty to the ld AO that on conclusion of insolvency resolution proceedings he may file a fresh appeal or may approach the tribunal for recall of this three appeals. The appeals of the Assessee are dismissed as those have not filed by the IPR, we grant liberty to IPR to file fresh appeal or apply for recall of this order if the committee of creditors decided to pursue this proceeding.

5.

In the result the all these appeals of the ld AO and the Assessee are dismissed. Order pronounced in the open court on 20/07/2021. - - (KULDIP SINGH) ACCOUNTANT MEMBER Dated: 20/07/2021 A K Keot

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